Quote:1. An Originator– whether that’s an individual, a corporation or another entity– initiates either a Direct Deposit or Direct Payment transaction using the ACH Network.  

(One key note:  The Originator in our case is the receiving party, not the check-writer. -APW)

2. Instead of using paper checks, ACH entries are entered and transmitted electronically, making transactions quicker, safer and easier.

3. The Originating Depository Financial institution (ODFI) enters the ACH entry at the request of the Originator.

4.  The ODFI aggregates payments from customers and transmits them in batches at regular, predetermined intervals to an ACH Operator.

5. ACH Operators (two central clearing facilities: The Federal Reserve or The Clearing House) receive batches of ACH entries from the ODFI.

6. The ACH transactions are sorted

---

and made available by the ACH Operator to the Receiving Depository Financial Institution (RDFI).

7. The Receiver’s account is debited or credited by the RDFI, according to the type of ACH entry. Individuals, businesses and other entities can all be Receivers.

8. Each ACH credit transaction settles in one to two business days, and each debit transaction settles in just one business day, as per the Rules.

(10-24-2017, 08:19 AM)ScottK Wrote:

(10-23-2017, 05:15 PM)Cobrien Wrote: This is faulty logic ignorant of the reality of how banking works. People of the conspiracy type love to believe things are fixed against them and have a static world view. These people like to think a normal worldview is accepting victimization. Therefore by rejecting the normal world view they also believe they're rejecting victimization. The problem is the indirect affirmation they are victims and must fight endlessly against a system.

https://www.consumer.ftc.gov/blog/2017/08/no-secret-bank-accounts-pay-your-bills

Ultimately, these people will find it necessary to reconsider themselves in relation to the societal self and others to effectively cause change. This is not an easy task. It is much easier to claim total corruption and stagnation. When doing so doesn't change their personal lives they seek to use their fallacious logic. It won't work. There will be orange activation until the emotional complex is balanced to move towards polarized action.

You are using quite the broad brush to judge all those who see things differently than you.

We currently live in an era of corrupt government.  Just ask the people if you don't agree.

https://blogs.chapman.edu/wilkinson/2017/10/11/americas-top-fears-2017/

I personally think you are in full blown denial if you think our financial system is honest, for if corrupt individuals exist within government, wouldn't one think that the focus of their attention would be the financial system.

That said, the balanced spiritual approach to this problem, in my view, is to focus one's energy on creating a new system rather than fighting the old corrupt system or living in denial of corruption..  But that's just me

(10-24-2017, 10:29 AM)APeacefulWarrior Wrote: (*mutter*) Why am I still talking about this?

Ok, regarding the R34 rejection code thing.  I took a few minutes to look into how the ACH system works, and this actually does have a simple explanation.  Because all electronic bank transfers go through the National Automated Clearing House Association.  According to their own page on how this all works:

Quote:1. An Originator– whether that’s an individual, a corporation or another entity– initiates either a Direct Deposit or Direct Payment transaction using the ACH Network.  

(One key note:  The Originator in our case is the receiving party, not the check-writer. -APW)

2. Instead of using paper checks, ACH entries are entered and transmitted electronically, making transactions quicker, safer and easier.

3. The Originating Depository Financial institution (ODFI) enters the ACH entry at the request of the Originator.

4.  The ODFI aggregates payments from customers and transmits them in batches at regular, predetermined intervals to an ACH Operator.

5. ACH Operators (two central clearing facilities: The Federal Reserve or The Clearing House) receive batches of ACH entries from the ODFI.

6. The ACH transactions are sorted

---

and made available by the ACH Operator to the Receiving Depository Financial Institution (RDFI).

7. The Receiver’s account is debited or credited by the RDFI, according to the type of ACH entry. Individuals, businesses and other entities can all be Receivers.

8. Each ACH credit transaction settles in one to two business days, and each debit transaction settles in just one business day, as per the Rules.

Except in GS's case, step 6 isn't being completed.  (Hence the horizontal line above.)  The check is hitting the ACH system, being processed, and instead ends up with an R34 rejection.  Why does it get the R34 rejection, AKA "RDFI participation has been limited by a federal or state supervisor"...?  Because the Federal Reserve is not a checking bank.  Nobody can write a check against a Fed account, not even the financial institutions which actually utilize its services.  It's a financial entity with associated codes and routing numbers, but not an RDFI.

In other words, the checks are bouncing before the account name\number are verified, or considered at all.  The recipient\originator's bank (the ODFI) basically just takes the provided checking account information on faith and passes it on blindly, because it's ACH that actually verifies these things.  But whenever it makes its way to ACH, ACH immediately nopes out because the transaction is self-evidently wrong on its face.  In the meantime, the originator's bank has probably gone ahead and provisionally credited their account with the money, under the presumption that the e-check would clear.  Hence, it looks for a day or two like the transaction went through, until it's returned.  

So that's it.  He's trying to write checks against a bank which is outside the standard everyday checking system, and it's bouncing the moment this hits a computer smart enough to spot the problem.

(10-24-2017, 02:55 PM)APeacefulWarrior Wrote: Well, the Federal Reserve does a whole bunch of things.  It is, in part, a bank for private-sector banks and for the government, so it's possible for them to draw upon accounts at the Fed.  However, those entities would not be sending checks through the standard ACH system as their way of doing so.  We're talking transactions in the billions or trillions here.

(10-24-2017, 11:28 AM)Cobrien Wrote:

(10-24-2017, 08:19 AM)ScottK Wrote: [quote='Cobrien' pid='234700' dateline='1508793348']
This is faulty logic ignorant of the reality of how banking works. People of the conspiracy type love to believe things are fixed against them and have a static world view. These people like to think a normal worldview is accepting victimization. Therefore by rejecting the normal world view they also believe they're rejecting victimization. The problem is the indirect affirmation they are victims and must fight endlessly against a system.

https://www.consumer.ftc.gov/blog/2017/08/no-secret-bank-accounts-pay-your-bills

Ultimately, these people will find it necessary to reconsider themselves in relation to the societal self and others to effectively cause change. This is not an easy task. It is much easier to claim total corruption and stagnation. When doing so doesn't change their personal lives they seek to use their fallacious logic. It won't work. There will be orange activation until the emotional complex is balanced to move towards polarized action.

You are using quite the broad brush to judge all those who see things differently than you.

We currently live in an era of corrupt government.  Just ask the people if you don't agree.

https://blogs.chapman.edu/wilkinson/2017/10/11/americas-top-fears-2017/

I personally think you are in full blown denial if you think our financial system is honest, for if corrupt individuals exist within government, wouldn't one think that the focus of their attention would be the financial system.

That said, the balanced spiritual approach to this problem, in my view, is to focus one's energy on creating a new system rather than fighting the old corrupt system or living in denial of corruption..  But that's just me